(The State) South Carolina’s top accountant to resign after $3.5B accounting error

South Carolina’s top accountant Richard Eckstrom says he will resign effective April 30 after disclosing to state lawmakers that he inflated the state’s cash balances for a decade, eventually reaching about $3.5 billion.

In a Thursday resignation letter to Gov. Henry McMaster, the comptroller general reiterated his advocacy that the Legislature move forward on legislation for a constitutional change to make his position appointed by the governor, rather than elected every four years by the voters. “Over the course of my time in public office I have taken great pride in the responsibility trusted to me,” Eckstrom, 74, wrote in his letter to McMaster, obtained by The State Media Co.

“I have been humble in my approach to the job an attribute I hope our constituents have recognized and will remember.” Eckstrom’s early resignation means the General Assembly will nominate and elect the next comptroller general during a joint assembly to be scheduled at a later date. Eckstrom’s leave also means he’ll avoid a trial in the Senate, a hearing legislators were soon going to announce would start April 11.

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Posted in * Economics, Politics, * South Carolina, Economy, Ethics / Moral Theology, State Government